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2017-09-24 20:04:11

FOXA

21st Century Fox

$26.88

0.12 (0.45%)

, ONCE

Spark Therapeutics

$85.15

-1.95 (-2.24%)

…20:04

09/24/17

09/24

20:04

09/24/17

20:04

On The Fly: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. The new proposal by Republicans to repeal and replace the Affordable Health Care suffered new setbacks within the party on Sunday, when Senator Ted Cruz expressed his opposition and Senator Susan Collins voiced strong criticism, according to Reuters. Senators John McCain and Rand Paul had previously said they would vote against the "Graham-Cassidy" bill, which Senate Majority Leader Mitch McConnell "intends" to put up for a vote this week, the publication noted. Publicly traded companies in the space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). 2. This weekend, NFL teams staged a show of solidarity with protesting players by kneeling, linking arms or staying off the field during the national anthem. This comes after President Donald Trump called for owners to fire those who refuse to stand and for fans to boycott NFL games. Following the steps of former San Francisco 49ers quarterback Colin Kaepernick, who sat during the anthem last season to call attention to what he saw as a pattern of racism in the way police treats African-Americans, several NFL players have since "taken one knee" or linked arms during the playing of the national anthem. 3. Gene therapy is rapidly emerging as one of the most exciting areas in biotechnology, and generating new hope for patients with rare and often deadly inherited diseases, Andre Bary wrote in this week's edition of Barron's. The first regulatory approval for replacement gene therapy could come as soon as January, if the FDA gives the go-ahead to Spark Therapeutics (ONCE) for its one-time treatment that targets a rare, inherited retinal condition leading to blindness, he added. Other publicly traded companies developing treatments in this area include AveXis' (AVXS), Regenxbio (RGNX), Audentes Therapeutics (BOLD), and Voyager Therapeutics (VYGR). 4. "Kingsman: The Golden Circle" easily won the weekend in North America, grossing $39M from 4,003 theaters. While the sequel scored one of the best openings for the month of September, it came in somewhat behind expectations. Overseas, Kingsman 2 kicked off with $61M, for a global tally of $100M. The movie was distributed by 20th Century Fox (FOXA) and received a 51% rating on Rotten Tomatoes. 5. Oracle (ORCL), GoPro (GPRO), Xilinx (XLNX), Synopsys (SNPS), and Cadence Design (CDNS) saw positive mentions in Barron's, while Six Flags (SIX), Honda (HMC), and iRobot (IRBT) were mentioned cautiously.

Wells Fargo analyst Marci Ryvicker upgraded Disney (DIS) to Outperform and raised her price target for the shares to $116 from $109. The owner of ESPN and ABC closed Friday up 31c to $101.50. Concerns over potential dilution from the BAMTech stake and the streaming apps are "widely overdone," Ryvicker tells investors in a research note where she also downgraded Viacom (VIAB). She expects the TV ecosystem will soon undergo on an accelerated push into over-the-top. As such, investors may need to start increasing exposure to media companies with solid streaming strategies, such as CBS (CBS), 21st Century Fox (FOXA), and Disney, and lessen exposure to those that do not, such as Viacom and Scripps Networks (SNI)/Discovery Communications (DISCA), Ryvicker argues. The analyst likes the current entry point for Disney shares.

08/11/17

PIPR

08/11/17INITIATIONTarget $35PIPROverweight

21st Century Fox initiated with an Overweight at Piper Jaffray

Piper Jaffray analyst Stan Meyers started 21st Century Fox with an Overweight rating and $35 price target. Fox has some of the best mix of content and remains undervalued relative to peers, the analyst contends.

09/19/17

09/19/17NO CHANGE

Cowen lowers price targets on media companies

Cowen analyst Doug Crentz cut his price targets for several media companies, as he believes that the margin pressure on TV networks will continue. The analyst believes that consensus estimates for TV broadcasters are too high, as he expects that the decline in the sector's EBITDA margin will more than double this year, driven by lower ad and affiliate revenue. He believes that two "deep-pocketed, low margin competitors -Netflix (NFLX) and Amazon (AMZN) - are the root of the problem. He cut his price target on Viacom (VIAB) to $31 from $41, on Discovery (DISCA) to $19 from $25, on Fox (FOXA) to $29 from $32, on CBS (CBS) to $69 from $70 and on Disney (DIS) to $94 from $95.

08/08/17

BNCH

08/08/17NO CHANGEBNCHBuy

Fox-ION 'rumors' most likely a negotiating tactic, says Benchmark

Benchmark analyst Daniel Kurnos highlighted a "slew" of "inconsistencies" that make him skeptical of last week's "unsubstantiated rumor published by Bloomberg" regarding Fox (FOXA) potentially forming a JV with ION and pulling all of its affiliate agreements from Sinclair (SBGI), concluding in a note to investors that this was "just another negotiating tactic by the network." Fox's "cozy" agreements with Tribune (TRCO) may get disrupted by Sinclair's acquisition, added Kurnos, who has a Buy rating on Sinclair shares.

ONCESpark Therapeutics

$85.15

-1.95 (-2.24%)

09/14/17

RBCM

09/14/17INITIATIONTarget $100RBCMOutperform

Spark Therapeutics initiated with an Outperform at RBC Capital

RBC Capital analyst Matthew Eckler started Spark Therapeutics with an Outperform rating and $100 price target. The analyst sees the expected upcoming approval of Luxturna as having "broad positive read-through" to the company's platform. He's a buyer ahead of next month's FDA panel.

09/21/17

JEFF

09/21/17NO CHANGETarget $95JEFFBuy

Jefferies sees Spark rallying 5%-7% on positive FDA panel

Jefferies analyst Michael Yee sees a "high likelihood" for a positive FDA panel on October 12 for Spark Therapeutics' SPK-RPE65, setting up approval for the first gene therapy drug for rare blindness on or before the FDA action date of January 12, 2018. The analyst sees 5%-7% share upside on a positive vote, mostly as a "de-risking event and also a positive read-through derivative to gene therapy companies as FDA starts to approve gene therapy drugs." He keeps a Buy rating on Spark with a $95 price target.

09/06/17

LEHM

09/06/17INITIATIONTarget $104LEHMOverweight

Spark named top pick in U.S. SMid-Cap Biotechnology at Barclays

Barclays analyst Gena Wang after the close initiated coverage of the U.S. Small & Mid Cap Biotechnology industry with a Positive view. Her top industry pick is Spark Therapeutics (ONCE). The analyst sees de-risking clinical data for several novel therapies in the biotech sector, namely from Spark, BioMarin (BMRN), AveXis (AVXS), Alnylam (ALNY) and Puma Biotechnology (PBYI). Wang believes Spark's Luxturna in RPE-65-mediated inherited retinal dystrophies could be disruptive to current treatment paradigms.

09/06/17

LEHM

09/06/17INITIATIONTarget $104LEHMOverweight

Spark Therapeutics initiated with an Overweight at Barclays

Barclays analyst Gena Wang started Spark Therapeutics with an Overweight rating and $104 price target. The analyst views the company's Luxturna as a potential disruptive treatment in inherited retinal dystrophies.

Barclays initiated AveXis with an Overweight rating and $124 price target, citing AVXS-101 showing "impressive" clinical benefit in Ph1/2 study, which could result in it becoming a strong competitor to Spinraza.

08/29/17

08/29/17INITIATION

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Esperion (ESPR) initiated with an Outperform at Northland. 2. Carter's (CRI) initiated with an Outperform at Macquarie. 3. DarioHealth (DRIO) initiated with a Buy at Aegis. 4. Helen of Troy (HELE) initiated with an Underperform at BofA/Merrill. 5. AveXis (AVXS) initiated with a Reduce at Nomura Instinet. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

RGNXRegenxbio

$28.25

-1.15 (-3.91%)

09/05/17

CHDN

09/05/17NO CHANGETarget $75CHDNBuy

Regenxbio price target raised to $75 from $55 at Chardan

09/19/17

BARD

09/19/17NO CHANGEBARDOutperform

Ultragenyx deal for Dimension would be good strategic fit, says Baird

Baird analyst Michael Ulz noted Ultragenyx (RARE) topped Regenxbio's (RGNX) bid for Dimension Therapeutics (DMTX) with a $5.50 per share offer of its own. He views the proposed acquisition of Dimension as a good strategic fit that would add a gene therapy platform and expand the early-stage pipeline. Ulz keeps an Outperform rating on Ultragenyx shares.

Citi analyst Joel Beatty downgraded Dimension Therapeutics (DMTX) to Sell saying his base case is now the takeover proposed by Ultragenyx (RARE) will go ahead. Since Dimension s currently trading at a small premium to the $5.50 per share proposal, the analyst downgraded the stock to Sell. Beatty sees a "small but real potential" for a higher bid to come in. He believes, however, that a successful bid from Regenxbio (RGNX) would likely need to be double its original offer. The analyst raised his price target for Dimension shares to $5.50 from $3.41.

Piper Jaffray analyst Joshua Schimmer said additional data presented by AveXis (AVXS) from its ongoing Phase 1/2 trial in infantile-onset spinal muscular atrophy "augurs well" for Audentes Therapeutics' (BOLD) gene therapy program for X-linked myotubular myopathy, as he sees several points of similarity that provide a positive read-through though the companies are targeting different diseases. Schimmer, who does not have a rating on AveXis, reiterates his Overweight rating and $24 price target on Audentes shares.

Leerink analyst Joseph Schwartz started Audentes Therapeutics with an Outperform rating and $22 price target as he believes catalysts over the next 12 months have the potential to generate enthusiasm for the company's approach, which appears de-risked by strong preclinical animal model data.

VYGRVoyager Therapeutics

$17.50

-0.22 (-1.24%)

03/31/17

STFL

03/31/17NO CHANGESTFL

Voyager Therapeutics has reached attractive entry point, says Stifel

After meeting with Voyager's CEO, Stifel analyst Katherine Breedis says that the company "continues to make solid progress" with its top drug, VY-AADC01. The analyst notes that the company is slated to report Phase 1B six month data for the drug in the middle of this year, and she says that it could be an important positive turning point for the shares. The analyst adds that the data may have been "de-risked" by recent improved outcomes reported by the company. Breedis thinks that VY-AADC01 has several key potential positive catalysts over the next 6-9 months,. She thinks that the stock has reached an attractive entry point and keeps a $33 price target and a Buy rating on the stock.

03/01/17

NOMU

03/01/17INITIATIONTarget $31NOMUBuy

Voyager Therapeutics initiated with a Buy at Nomura

Nomura initiated Voyager Therapeutics with a Buy and a $31 price target.

Stifel analyst Thmas Shrader resumed coverage of Voyager with a $20 price target and a Buy rating. He thinks that the company's lead drug, a treatment for Parkinson's "has great promise."

ORCLOracle

$48.16

0.19 (0.40%)

09/15/17

UBSW

09/15/17NO CHANGETarget $57UBSWBuy

Oracle price target raised to $57 from $52 at UBS

UBS analyst Fatima Boolani raised her price target on Oracle to $57 from $52 following good Q1 results in what is normally a slow quarter. The analyst noted Q2 has tougher comps, causing the guidance to be somewhat mixed. Boolani reiterated her Buy rating on Oracle shares.

09/15/17

ADAM

09/15/17NO CHANGETarget $57ADAMBuy

Oracle key metrics better than expected, says Canaccord

Canaccord analyst Richard Davis said Oracle posted its third consecutive positive quarterly surprise, with most of the key metrics at least a little better than expected. He said his view remains unchanged and that the stock will outperform in down or choppy markets. Davis reiterated his Buy rating and raised his price target to $57 from $56 on Oracle shares.

JMP Securities analyst Patrick Walravens said Oracle reported "solid" Q1 results, but he blames the afterhours slide in the stock to high expectations coming into the call and constant currency guidance that missed estimates. The analyst, who said the Q2 guidance suggests that his prior cloud growth assumptions were too optimistic, keeps a Market Perform rating on Oracle shares, which are down over 4% to $50.55 in pre-market trading.

09/15/17

MUFG

09/15/17NO CHANGETarget $61MUFGOverweight

Oracle should be bought on post-earnings weakness, says MUFG

MUFG analyst Stephen Bersey earlier today lowered his price target for Oracle shares to $61 from $63 but reiterated an Overweight rating on the name. The company last night posted a "solid" quarter as it continues its transition to the cloud, Bersey told investors in a research note. Oracle sustained 50%-plus year-over-year cloud revenue growth rates even as cloud revenue passed $1B in Q2 of FY17, Bersey noted. He recommends building or adding to positions on the post-earnings share weakness.

GPROGoPro

$10.75

-0.19 (-1.74%)

09/21/17

CLVD

09/21/17NO CHANGECLVD

GoPro unit and earnings estimates raised through 2018 at Cleveland Research

JPMorgan analyst Paul Coster adjusted his Q3 estimates for GoPro after the company reported that it now expects revenues and margins to come in at the high end of its previous guidance and he is also raising his multiple on the stock to account for its solid execution ahead of the launch of the Hero 6 camera. Given the raised multiple, Coster increased his price target on the stock to $15 from $13 and keeps an Overweight rating on GoPro shares.

09/08/17

SBSH

09/08/17NO CHANGETarget $10.5SBSHNeutral

GoPro price target raised to $10.50 from $9.50 at Citi

Citi analyst Stanley Kovler raised his price target for GoPro shares to $10.50 following the company's positive preannouncement. Sell-through in July was strong and good sales were experienced in August as well across all regions, Kovler tells investors in a research note. He maintains a Neutral rating on GoPro.

09/01/17

MSCO

09/01/17NO CHANGETarget $60MSCOOverweight

Morgan Stanley still convinced computer vision will be major cycle for Ambarella

Morgan Stanley analyst Joseph Moore said he'd foreseen the possibility for some near-term challenges for Ambarella's (AMBA) business outside of GoPro (GPRO), but the shortfall and near-term guidance miss was bigger than he expected due to several issues, particularly drones. However, he said the company's additional color on its upcoming computer vision portfolio was encouraging and he remains convinced computer vision will be a "major product cycle that matters." Moore cut his Ambarella estimates for next year "materially" and lowered his price target on the stock to $60 from $65, though he maintains his Overweight rating on the shares.

XLNXXilinx

$69.33

0.42 (0.61%)

07/10/17

JEFF

07/10/17UPGRADETarget $77JEFFBuy

Xilinx upgraded to Buy from Hold at Jefferies

Jefferies analyst Mark Lipacis upgraded Xilinx to Buy and raised his price target for the shares to $77 from $68. Xilinx's recent investment in software tools along with its programmable gate arrays positions it as a beneficiary as the industry undergoes a "tectonic shift towards a parallel computing model," Lipacis tells investors in a research note.

07/27/17

07/27/17NO CHANGETarget $40Reduce

Xilinx shares remain overvalued, says Nomura Instinet

Nomura Instinet analyst Romit Shah believes Xilinx continues to under-deliver on operating expenses as the quarter and guidance were higher than expected. He believes consensus is preoccupied with unproven markets such as AI and autonomous driving and are ignoring the lack of momentum in the core business. Shah believes Xilinx shares remain overvalued and reiterates his Reduce rating and $50 price target.

07/10/17

JEFF

07/10/17NO CHANGETarget $180JEFFBuy

Nvidia price target raised to $180 from $140 at Jefferies

Jefferies analyst Mark Lipacis raised his price target for Nvidia (NVDA) shares to $180 from $140 and his three-year bull case earnings per share estimate to $8.00 from $6.50. The chipmaker closed Friday up $3.28 to $146.76. The company's decade long investment in its proprietary GPU-processing language has resulted in a multi-year competitive advantage that has yet to be fully appreciated by investors, Lipacis tells investors in a research note. He sees Nvidia as a key beneficiary as the industry undergoes a "tectonic shift towards a parallel computing model." The analyst keeps a Buy rating on the shares. Lipacis this morning also downgraded Intel (INTC) to Underperform and upgraded both Cavium (CAVM) and Xilinx (XLNX) to Buy.

07/18/17

LEHM

07/18/17UPGRADETarget $60LEHMEqual Weight

Xilinx upgraded to Equal Weight from Underweight at Barclays

Barclays analyst Blayne Curtis upgraded Xilinx (XLNX) to Equal Weight saying he sees more downside elsewhere in the U.S. Semiconductors space. The analyst raised his price target for the shares to $60 from $53. The analyst this morning downgraded both AMD (AMD) and Cirrus Logic (CRUS) to Underweight.

SNPSSynopsys

$80.36

0.3 (0.37%)

12/01/16

NEED

12/01/16NO CHANGETarget $66NEEDBuy

Synopsys price target raised to $66 from $60 at Needham

Needham analyst Richard Valera raised his price target for Synopsys to $66 from $60 after the company delivered "strong" Q4 results. While the company's down year over year backlog despite an increase in duration will likely raise some questions, the analyst is inclined to give Synopsys the benefit of the doubt given its strong recent execution track record. He reiterates a Buy rating on the shares, and says he would a buyer on any post-earnings weakness.

05/18/17

FBCO

05/18/17NO CHANGETarget $82FBCOOutperform

Synopsys price target raised to $82 from $73 at Credit Suisse

Credit Suisse analyst Farhan Ahmad noted that Synopsys (SNPS) reported better than expected Q2 results and raised FY17 guidance modestly. He views the company as the fastest growing electronic design automation, or EDA, company, adding that he continues to believe it has faster growth than Cadence Design (CDNS) due to its higher exposure to faster growth intellectual property and software businesses. Ahmad raised his price target on Synopsys to $82 from $73 and keeps an Outperform rating on the shares.

08/15/17

FBCO

08/15/17NO CHANGETarget $90FBCOOutperform

Synopsys price target raised to $90 from $82 at Credit Suisse

Credit Suisse analyst Farhan Ahmad raised his price target for Synopsys to $90 from $82 to reflect a more positive view of near-term, and increased confidence in long-term growth. The analyst sees potential upside to Q4 estimates, and reiterates an Outperform rating on the shares.

Needham analyst Richard Valera said that Synopsys' increased FY17 guidance implies "notably light" Q4 guidance. Management attributed this to lumpiness of hardware, but he also suspects the view includes some conservatism. Valera, who thinks the shares could continue to work higher, raised his price target on Synopsys to $77 from $76 and keeps a Buy rating on the stock.

CDNSCadence Design

$38.88

0.45 (1.17%)

12/12/16

JPMS

12/12/16DOWNGRADETarget $25JPMSUnderweight

Cadence Design downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Sterling Auty downgraded Cadence Design Systems to Underweight saying the shares are at a premium valuation level, which is unsustainable. The analyst keeps a $25 price target for the shares.

04/25/17

DADA

04/25/17DOWNGRADETarget $32DADANeutral

Cadence Design downgraded to Neutral from Buy at DA Davidson

DA Davidson analyst Thomas Diffely downgraded Cadence Design to Neutral saying the valuation now reflects the company's bullish outlook. The analyst raised his price target for the shares to $32 from $30 following Cadence's Q1 results.

04/25/17

FBCO

04/25/17NO CHANGETarget $31FBCONeutral

Cadence Design price target raised to $31 from $25 at Credit Suisse

Credit Suisse analyst Farhan Ahmad raised his price target for Cadence Design to $31 from $25 after the company beat Street estimate for Q1 EPS but guided Q2 EPS below consensus. The analyst reiterates a Neutral rating on the shares.

Janney Capital analyst Tyler Batory lowered his Q3 estimates for both Six Flags (SIX) and Cedar Fair (FUN) to account for poor weather, especially over Labor Day weekend. However, he disagrees with the bear argument that consumers no longer want to visit theme parks and believes both stocks could rally from here after expectations have moved lower, following a similar pattern as last year. Batory keeps Buy ratings on both stocks.

08/30/17

08/30/17UPGRADE

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Sanofi (SNY) upgraded to Hold from Reduce at HSBC, with analyst Steve McGarry citing valuation. 2. M.D.C. Holdings (MDC) upgraded to Market Perform from Underperform at Wells Fargo with analyst Stephen East saying he sees "little reason the equity would move meaningfully lower" from current levels. 3. Ciena (CIEN) upgraded to Buy from Neutral at Citi with analyst Stanley Kovler saying the risk/reward is positive into third quarter results. 4. Six Flags (SIX) upgraded to Buy from Neutral at Hilliard Lyons with analyst Jeff Thomison citing improved valuation based on its 13% year-to-date pullback. 5. Prospect Capital (PSEC) upgraded to Market Perform from Underperform at Raymond James with analyst Robert Dodd saying he expects near-term earnings will cover the lower dividend run-rate but notes downside risk remains. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

08/30/17

HDLY

08/30/17UPGRADETarget $59HDLYBuy

Six Flags upgraded to Buy from Neutral at Hilliard Lyons

Hilliard Lyons analyst Jeff Thomison upgraded Six Flags to Buy from Neutral, citing improved valuation based on its 13% year-to-date pullback. While it has been a challenging summer, and Hurricane Harvey will likely drag on operating results at the company's Texas properties, the stock has now become attractive, said Thomison, who set a $59 price target on Six Flags shares.

08/30/17

KEYB

08/30/17INITIATIONKEYBOverweight

Six Flags resumed with an Overweight from Sector Weight at KeyBanc

KeyBanc analyst Brett Andress resumed coverage of Six Flags with an Overweight rating and $59 price target. The firm previously had a Sector Weight rating on the name.

HMCHonda

$29.91

0.18 (0.61%)

09/05/17

MSCO

09/05/17DOWNGRADEMSCOEqual Weight

Honda downgraded to Equal Weight from Overweight at Morgan Stanley

02/03/17

MACQ

02/03/17UPGRADEMACQOutperform

Honda upgraded to Outperform from Neutral at Macquarie

08/01/17

NOMU

08/01/17UPGRADENOMUNeutral

Honda upgraded to Neutral from Reduce at Nomura Instinet

07/05/17

JPMS

07/05/17DOWNGRADEJPMS

Honda downgraded to Neutral from Overweight at JPMorgan

IRBTiRobot

$76.14

-3.8 (-4.75%)

07/03/17

DOTC

07/03/17DOWNGRADEDOTCNeutral

iRobot downgraded to Neutral from Buy at Dougherty

Dougherty analyst Jon Fisher downgraded iRobot to Neutral.

09/13/17

JPMS

09/13/17NO CHANGEJPMSUnderweight

JPMorgan cautious on iRobot after Shark enters robotic vacuum space

Shark officially announced its entrance into the robotic vacuum category with features that appear to match the capabilities of iRobot's Roomba 600 and 800 series, but at a lower price, JPMorgan analyst Mark Strouse tells investors in a research note. Shark's ION robot will be available at an "impressive list" of U.S. retail distribution partners, the analyst adds. He sees the new product as adding to an increasingly competitive landscape and, at a minimum, weighing on investor sentiment for iRobot. Further, ION may present a risk to what the analyst sees as elevated investor expectations for iRobot. Strouse keeps an Underweight rating on iRobot shares. The stock in midday trading is down 11%, or $11.35, to $89.52.

07/03/17

07/03/17NO CHANGE

On The Fly: Top five analyst actions

Catch up on today's top five analyst actions with this list compiled by The Fly: 1. GMS Inc. (GMS) upgraded to Buy from Neutral at Northcoast. 2. Telecom Argentina (TEO) upgraded to Buy from Neutral at BofA/Merrill with analyst Rodrigo Villanueva citing the company's merger agreement with Cablevision Holding S.A. 3. iRobot (IRBT) downgraded to Neutral from Buy at Dougherty. 4. AeroVironment (AVAV) downgraded to Neutral from Overweight at Piper Jaffray with analyst Troy saying given the "historical lumpiness" in sales for AeroVironment's commercial drone market and international opportunities, investors will be able to purchase shares at more attractive valuations in future quarters. He raised his price target for the shares to $35 from $30. 5. ShotSpotter (SSTI) initiated with an Outperform at Northland. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

07/26/17

PIPR

07/26/17NO CHANGETarget $92PIPRNeutral

iRobot price target raised to $92 from $68 at Piper Jaffray

Piper Jaffray analyst Troy Jensen raised his price target for iRobot to $92 saying the company reported "another impressive quarter with significant" revenue and earnings upside. The robotic vacuum cleaner market is "obviously inflecting" and iRobot's market share is "rapidly increasing," Jensen tells investors in a research note. The analyst remains upbeat about the company's market position but keeps a Neutral rating on the shares due to valuation.

AETAetna

$153.57

0.18 (0.12%)

06/28/17

06/28/17INITIATION

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Altaba (AABA) initiated with an Overweight at JPMorgan. 2. Aetna (AET) and Humana (HUM) were initiated with a Buy at Citi. The firm also added Aetna to its Focus List. 3. CVS Health (CVS) and Walgreens Boots Alliance (WBA) were initiated with a Hold at Needham. 4. Oaktree Capital (OAK) initiated with a Hold at Jefferies. 5. General Motors (GM) resumed with an Overweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

09/12/17

ARGS

09/12/17NO CHANGEARGS

Aetna price target raised to $185 from $165 at Argus

Argus analyst David Toung believes that Aetna reported "strong" Q2 results. The analyst remains upbeat on the company's 2H17 outlook and keeps a Buy rating on the shares.

07/13/17

FBCO

07/13/17NO CHANGETarget $165FBCOOutperform

Aetna price target raised to $165 from $160 at Credit Suisse

Credit Suisse analyst Scott Fidel raised his price target for Aetna to $165 from $160 ahead of Q2 results. He reiterates an Outperform rating on the shares.

07/14/17

PIPR

07/14/17NO CHANGETarget $18PIPROverweight

Piper views updated Aetna policy as disappointing for Natera

Piper Jaffray analyst William Quirk views Aetna's (AET) updated non-invasive prenatal testing medical policy, where it decided to continue covering the test only in high risk, as "disappointing." Upside for Natera (NTRA) in the second half of 2017 now falls on Medicaid and microdeletion reimbursement progress, and less so commercial payers flipping to cover average risk, Quick tells investors in a research note. He keeps an Overweight rating on Natera shares with an $18 price target.

ANTMAnthem

$182.86

-0.64 (-0.35%)

09/19/17

RBCM

09/19/17INITIATIONRBCMSector Perform

Express Scripts initiated with a Sector Perform at RBC Capital

RBC Capital analyst George Hill started coverage of Express Scripts (ESRX) with a $68 price target and a Sector Perform rating. The analyst says that the company "faces an uncertain future" in the wake of the loss of its deal with Anthem ( ANTM), as he believes that it will have difficulty generating operating profit growth without Anthem.

Leerink analyst Ana Gupte said she views the draft version of the Senate healthcare bill as better than expected, stating that stabilization of the Exchanges and risk stabilization is a direct positive for health insurers and indirect positive for facility operators. The Senate bill maintains the House bill's plan to repeal all "ObamaCare" industry fees and taxes, which is a positive for Managed Care and Medical Technology players, Gupte adds. She keeps Outperform ratings on Anthem (ANTM), UnitedHealth (UNH), Cigna (CI), Humana (HUM), WellCare (WCG), Molina Healthcare (MOH) and acute care hospital operators HCA Holdings (HCA), Tenet (THC) and LifePoint (LPNT).

06/28/17

SBSH

06/28/17NO CHANGETarget $205SBSHBuy

Anthem removed from Focus List at Citi

Citi analyst Ralph Giacobbe removed Anthem (ANTM) from his firm's Focus List but keeps a Buy rating on the shares with a $205 price target. The analyst believes some of the upside catalysts have played out. He also added Aetna (AET) to the Focus List.

07/12/17

FBCO

07/12/17INITIATIONTarget $195FBCONeutral

Anthem initiated with a Neutral at Credit Suisse

Credit Suisse analyst Scott Fidel started Anthem with a Neutral rating and $195 price target. The company has produced slower earnings growth over the past decade relative to Managed Care peers and its returns on capital are also "sub-par relative to comps," the analyst contends. He believes Anthem is "entering a new chapter" following the failed Cigna (CI) acquisition and "uncertain future" of the Affordable Care Act's exchanges and Medicaid expansion.

CNCCentene

$92.22

1.48 (1.63%)

09/13/17

LEER

09/13/17NO CHANGETarget $90LEERMarket Perform

Centene price target raised to $90 from $78 at Leerink

Leerink analyst Ana Gupte raised her price target for Centene to $90 from $78 as she is positive on it after the announcement of the Fidelis AMC acquisition. The analyst reiterates a Market Perform rating on the shares.

09/13/17

CANT

09/13/17NO CHANGETarget $107CANTOverweight

Centene price target raised to $107 from $100 at Cantor

Cantor Fitzgerald analyst Steven Halper raised his price target for Centene shares to $107 following the company's acquisition of Fidelis Care. The analyst views the acquisition positively, both from a strategic and financial perspective. He keeps an Overweight rating on Centene.

09/13/17

MSCO

09/13/17NO CHANGETarget $94MSCOOverweight

Deal for Fidelis 'in Centene's wheelhouse,' says Morgan Stanley

Morgan Stanley analyst Zack Sopcak sees Fidelis Care as a strong fit, both culturally and in terms of business mix, for Centene, calling the acquisition a deal "in Centene's wheelhouse." The analyst, who views the downside to the deal as limited given what he sees as modest synergy targets, keeps an Overweight rating and $94 price target on Centene shares.

07/26/17

PIPR

07/26/17NO CHANGETarget $105PIPROverweight

Piper says double down on Centene, ups target to $105

Piper Jaffray analyst Sarah James attributes yesterday's post-earnings pullback in shares of Centene to the macro backdrop and the company's spending bump that she believes fuels the bear concern that constant spending for growth pressures margins. The analyst "strongly" disagrees and believe this is when investors should double down on Centene shares. The company will see the greatest multiple expansion in the group and has the highest potential for earnings upside, James tells investors in a research note. She raised her price target for the shares to $105 from $85 and keeps an Overweight rating on the name.

Jefferies analyst David Windley said the rally yesterday in healthcare stocks was appropriate given the "anemic" rewrite of the AHCA healthcare bill by Senate Republicans. The key changes are removal of "pay-for" taxes, a somewhat longer runway for Exchange cost-sharing reduction subsidies, and delayed Medicaid transition to per capita caps, he tells investors. Windley called Cigna (CI) "probably the safest MCO in this noise", adding that Humana (HUM) would benefit most from the proposed removal of the health insurer fee. Other publicly traded healthcare insurers include Aetna (AET), Anthem (ANTM), Centene (CNC), Health Net (HNT), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).

06/16/17

06/16/17NO CHANGE

Leerink reiterates view that Cigna could bid for Humana

Leerink analyst Ana Gupte reiterated his views that Cigna (CI) could make a bid Humana (HUM) following Cigna's disclosure that 60% of its Medicare Advantage plans will be in 4-STAR rated plans. The announcement is most positive for Humana (HUM) which is the largest pure play Medicare Advantage name, but also paves the way for Cigna to potentially dievest its legacy HS Medicare Advantage book and bid for Humana.

Bernstein analyst Lance Wilkes says that "repealing and replacing Obamacare will be Trump's primary focus." The analyst expects health insurers to benefit from from the repeal of ACA taxes and the elimination of requirements to spend a certain percentage of revenue on medical costs. Wilkes expects Anthem (ANTM) and Blue Cross/Blue Shield providers to benefit from the elimination of public exchanges and broad coverage requirements. Other health insurers include Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).

HUMHumana

$239.09

0.45 (0.19%)

07/13/17

FBCO

07/13/17NO CHANGETarget $250FBCOOutperform

Humana price target raised to $250 from $245 at Credit Suisse

Credit Suisse analyst Scott Fidel raised his price target for Humana to $250 from $245 ahead of Q2 results. He reiterates an Outperform rating on the shares.

08/03/17

PIPR

08/03/17NO CHANGETarget $280PIPROverweight

Humana price target raised to $280 from $246 at Piper Jaffray

Piper Jaffray analyst Sarah James raised her price target for Humana to $280 saying the company reported a "strong" beat and raise quarter driven by "strong" Medicare Advantage performance and improved cost control. The analyst sees upside to the current share price and keeps an Overweight rating on Humana.

08/03/17

OPCO

08/03/17NO CHANGETarget $255OPCOOutperform

Humana price target raised to $255 from $236 at Oppenheimer

Oppenheimer analyst Michael Wiederhorn raised his price target for Humana to $255 from $236 following "strong results" that were driven by outperformance in Medicare Advantage, and after the company raised 2017 EPS guidance. The analyst reiterates an Outperform rating on the shares.

08/03/17

FBCO

08/03/17NO CHANGETarget $260FBCOOutperform

Humana price target raised to $260 from $250 at Credit Suisse

Credit Suisse analyst Scott Fidel raised his price target for Humana to $260 from $250 following quarterly results. The analyst reiterates an Outperform rating on the shares.

MOHMolina Healthcare

$65.32

2.81 (4.50%)

08/17/17

PIPR

08/17/17NO CHANGETarget $70PIPROverweight

Molina has sufficient cash without capital raise, says Piper Jaffray

Piper Jaffray analyst Sarah James believes concerns around Molina Healthcare's cash levels, which drove the stock down 5% in the last week, are overdone. After addressing the issue with management, James is "comfortable and confident" that Molina has sufficient cash to meet its needs and has excess reserves without needing an equity raise as feared by bears. The analyst views the shares as undervalued and keeps an Overweight rating on the name with a $70 price target.

08/17/17

08/17/17UPGRADETarget $68Overweight

Molina Healthcare upgraded to Overweight from Underweight at Morgan Stanley

As previously reported, Morgan Stanley upgraded Molina Healthcare two notches to Overweight from Underweight and raised its price target to $68 from $65. Analyst Zack Sopcak sees a clear path to growth from a clear cost cutting plan and strategy, and favorable risk/reward following the 15% decline in shares since June. The analyst believes interim management's clear restructuring targets are achievable and limit share downside. Sopcak said Molina is on the "cusp" of being the next managed care organization to succeed on a turnaround after bottoming out in Q2.

Piper Jaffray analyst Sarah James views UnitedHealth's promotion of David Wichmann as a "solid choice and not a surprise." The analyst expects business as usual for the company as it continues to push into technology including artificial intelligence. She has an Overweight rating on the shares.

Piper Jaffray analyst Sean Wieland said Advisory Board's (ABCO) deal to merge its healthcare business with United Healthcare's (UNH) OptumInsights should be marginally accretive to UnitedHealth and add to his confidence in his FY18 OptumInsights growth estimates. He keeps a Neutral rating on Advisory Board shares and raised his price target on the stock to $54.29 from $51 to reflect the combined estimated amount being paid to shareholders by Optum and Vista Equity, the buyers of Advisory's education business.

08/30/17

ADAM

08/30/17DOWNGRADETarget $54ADAMHold

The Advisory Board downgraded to Hold from Buy at Canaccord

Canaccord analyst Richard Close downgraded The Advisory Board (ABCO) to Hold from Buy based on the announced transaction to split the company by selling the Healthcare business to UnitedHealth's (UNH) Optum unit and the Education Business to Vista Equity Partners. Close lowered his price target to $54.29 on Advisory Board shares.

WCGWellCare

$167.16

1.1 (0.66%)

08/25/17

CANT

08/25/17INITIATIONTarget $195CANTOverweight

WellCare coverage assumed with an Overweight at Cantor

Cantor analyst Steven Halper assumed coverage on WellCare with an Overweight and a $195 price target.

08/25/17

08/25/17INITIATION

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Walgreens Boots Alliance (WBA) initiated with a Buy and CVS Health (CVS) and Fred's (FRED) initiated with a Hold at Loop Capital. 2. Adobe (ADBE), Intuit (INTU), GoDaddy (GDDY) initiated with a Buy at Jefferies, while Mindbody (MB) was initiated with a Hold. 3. New Oriental Education (EDU), Bright Scholar (BEDU) and TAL Education (TAL) initiated with Overweight ratings at Morgan Stanley. 4. WellCare (WCG) coverage assumed with an Overweight at Cantor. 5. Dollar Tree (DLTR) and Dollar General (DG) reinstated with Buy ratings at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

07/13/17

FBCO

07/13/17NO CHANGETarget $163FBCONeutral

WellCare price target raised to $163 from $155 at Credit Suisse

Credit Suisse analyst Scott Fidel raised his price target for WellCare to $163 from $155 ahead of Q2 results. He reiterates a Neutral rating on the shares.

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